SAN FRANCISCO (MarketWatch) -- Akamai Technologies Inc. AKAM shares plunged by more than 18% Thursday, to $33.91, as investors slammed the Internet content-delivery technology company for its disappointing revenue results and outlook. Late Wednesday, Akamai said it earned 54 cents a share, on $378 million in revenue, while analysts had forecast the company to earn 50 cents a share on $381 million in sales. Analysts at Janney Capital Markets and Jefferies cut their ratings on Akamai's stock following the results. For its first quarter, Akamai said it expects to earn 50 cents to 52 cents a share, on revenue in a range of $352 million to $362 million. Analysts surveyed by Thomson Reuters had previously forecast Akamai to earn 47 cents a share on $370.1 million in sales for the quarter.
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| Akamai Technologies, Inc. | View akam Stock Quote | |||
| Akamai Technologies, Inc. | View akam Stock Quote | |||
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